Enel acquires 527MW hydro plants from ERG

It has paid more than €1bn for the acquisition

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Enel has acquired 527MW of hydro plants from ERG Hydro in a deal worth more than €1 billion (£837m).

It will take charge of the plants in Umbria, Lazio and Marche, which have an annual production of close to 1.5TWh.

More than 100 employees will join the Enel Group as part of the deal.

The deal will bolster the company’s renewable portfolio and take its installed hydropower capacity across Italy to 13GW.